In an impressive showcase of financial strength and market leadership, Synopsys, Inc. (Nasdaq: SNPS) today unveiled its financial achievements for the first quarter of the fiscal year 2024, setting new records and surpassing analysts’ expectations. The technology giant, renowned for its comprehensive silicon to systems design solutions, reported a staggering quarterly revenue of $1.649 billion, marking a significant 21% increase from the $1.361 billion recorded in the same period last year.
This year’s fiscal performance not only signifies robust growth but also includes the positive impact of an additional week in the first quarter, a strategic advantage that has contributed to the company’s outstanding results. Synopsys’ GAAP earnings per diluted share stood at $2.89, with non-GAAP earnings reaching an impressive $3.56 per diluted share, eclipsing the high end of the company’s own forecasts.
